How to Qualify for a Home Loan in the Philippines?

The chances of getting a home loan application approved in the Philippines is based on the above-mentioned factors. Your income bracket and your financial capability and stability will always be the top qualifications of banks and lending institutions.

Generally, to acquire a home or housing loan in the Philippines, you should have completed or organised:

For commercial banks

Home loan application form

2 valid IDs (confirm with your banks the list of acceptable IDs)

If married, both spouses must fill out the form

If single, with a co-borrower or co-mortgagor – fill out the separate application forms

At least 21 years old but not older than 65 years old upon the loan’s maturity

Requirements for employed and self-employed

A regular employee of a company of at least two years

For self-employed, the business must be legally operating for at least two years

TCT (Transfer Certificate of Title)/Condominimum Certificate of Title CCT)

Vicinity Maps/House Plans/Bill of Materials

Marriage contract if borrowers are married

In-house financing requirements are a bit lenient for housing loan applicants. The typical requirements are almost the same as employed and self-employed listed above. On the other hand, you may also visit SSS and PAG-IBIG for home loans requirements.

Government subsidised housing loans may require more documents to validate your qualifications.